PB Financial Corporation Declares Second-Quarter, 2021 Dividend

Rhea-AI Summary

PB Financial Corporation has declared a quarterly cash dividend of $0.25 per share, payable to shareholders of record by May 12, 2021. This marks a 21.95% increase from the previous year, translating to an annualized dividend of $1.00 and a yield of approximately 2.84%.

This announcement also highlights the company's 38th consecutive quarterly dividend, reflecting its consistent financial performance since initiating dividends in the first quarter of 2012.

Positive

• Quarterly cash dividend increased by 21.95%
• 38th consecutive quarterly cash dividend shows strong financial performance
• Dividend yield of approximately 2.84% is attractive for shareholders

Negative

• None.

ROCKY MOUNT, NC / ACCESSWIRE / April 30, 2021 / Ted E. Whitehurst, President and CEO of PB Financial Corporation, the holding company for Providence Bank, announced today that the Board of Directors approved a quarterly cash dividend of $0.25 per share on common stock outstanding to shareholders of record at the close of business on May 12, 2021. The dividend is payable May 26, 2021. This is an increase of approximately 21.95% from the dividend paid during the 2^nd quarter of 2020. This represents a $1.00 per share dividend on an annualized basis and a dividend yield of approximately 2.84% (based on closing price on April 29, 2021 of $35.25/share).

Whitehurst commented, "This represents our 38^th consecutive quarterly cash dividend. Our consistent financial performance has allowed us to increase our cash dividend each quarter since we began paying dividends in the 1^st quarter of 2012. The consistent increase in our cash dividend continues to be an important part of our strategy to enhance shareholder value. We believe this strategy sets us apart from other community banks."

Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson and Raleigh. As of March 31, 2021, PB Financial Corporation had total assets of $617.6 million, loans of $495.9 million and total deposits of $484.5 million.

www.pbknc.com

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as "believes," "considers," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects," "would be," and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarter ended March 31, 2021 as presented is unaudited.

For more information, contact:
Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com

SOURCE: PB Financial Corporation

View source version on accesswire.com:
https://www.accesswire.com/643529/PB-Financial-Corporation-Declares-Second-Quarter-2021-Dividend

FAQ

What is the dividend amount declared by PBNC for Q2 2021?

PBNC declared a dividend of $0.25 per share for Q2 2021.

When will the dividend be paid to shareholders?

The dividend will be payable on May 26, 2021.

What is the annualized dividend based on the recent declaration?

The annualized dividend is $1.00 per share based on the recent declaration.

What is the dividend yield for PBNC based on the recent dividend?

The dividend yield is approximately 2.84%, based on the closing price of $35.25 on April 29, 2021.